Torrance, CA – November 16, 2011 – (RealEstateRama) — Lee & Associates, the nation’s largest broker owned commercial brokerage firm, has closed on the $7.3 million sale of a 14,820-square-foot retail property leased by Walgreens, located at 8996 Stacy Road in McKinney, Texas.
Jim Casale, CCIM, a principal in the Lee & Associates’ San Diego office represented the buyers, a private family trust. The sellers, JK 720 Custer LLC, were represented by Brad and Gavin Kam with Net Lease Realty Advisors.
“This well-located asset is a prime net-leased investment offering long-term security for my clients”, Casale said. “We competed with multiple offers and presented a comprehensive package showing my client’s expertise and our ability to close quickly on an all-cash basis. That ultimately won us the deal.”
The Walgreens store was constructed in 2008 and is located in the master-planned community of Craig Ranch, a high-quality 2,500-acre community in the Dallas marketplace. Walgreens has a lease on the building until 2033 with multiple options
About Lee & Associate:
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 44 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
